EU to 1.25 by Labor Day?

Longer term possibilities.
Showing two different 12345 impulses down.

1.16 looks quite achievable per Fibonacci extensions,
and quite normal to retrace to around wave 4 of impulse up.

1.12 is plausible, if US FED keeps hiking and ECB keeps stalling.
All in all, I think EURO is way overpriced and need a significant correction

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Considering the downward velocity, I am removing the ''less bearish'' count in favor of the remaining one in dark red below. The final target still looks good to me.

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Looks to be on track, although Friday will not move much more?

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Zoomed in fibs on smaller tf

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I have posted an updated long term plan (looking for 1.07) here: